• Ripple announced the acquisition of Metaco for $250 million.
• Tether will allocate up to 15% of its net realized operating profits toward purchasing Bitcoin.
• A unit of Greenland Holdings is planning to apply for a licence to trade virtual assets in Hong Kong.
Ripple Acquires Metaco
Ripple announced today that it has acquired Metaco, a Swiss-based provider of digital asset custody and tokenization technology, for $250 million. Ripple will become the sole shareholder of Metaco, which will continue to operate as an independent brand and business unit led by Founder and CEO Adrien Treccani. Through this acquisition, Ripple will expand its enterprise offerings, while Metaco will “dramatically accelerate” its growth trajectory.
Tether to Buy BTC Monthly
Starting this month, Tether will regularly allocate up to 15% of its net realized operating profits toward purchasing Bitcoin (BTC) as part of its latest investment strategy aimed at strengthening its reserves portfolio. The company anticipates that the current and future BTC holdings in its reserves will not exceed the Shareholder Capital Cushion and will further strengthen and diversify the reserves.
Greenland Holdings Applies for Virtual Asset Licence
A unit of Greenland Holdings, which is 46.4% owned by the Shanghai municipal government, is planning to apply for a licence to trade virtual assets in Hong Kong. James Geng Jing, CEO of Greenland Financial Technology Group said: “By applying for a virtual asset operator’s licence in Hong Kong, it will further diversify our business and expand our international footprint”.
WazirX Claims Binance Controls WRX Token
WazirX released a statement claiming that Binance controls the WRX token, that it conducted the initial exchange offering (IEO) for WRX, and that it collected and kept all sale proceeds from the IEO (BNB 108,401 worth USD 2 million). It further said that Binance currently holds a total 580.78 Million WRX tokens with no allocations given to WazirX team yet. The responsibility of conducting quarterly burns also lies with Binance but they have not done 5 burns since Jan 2022 onwards according to WazirX statement .
Coinbase Extends Crypto Trading Services in Asia Pacific Region
Coinbase Global Inc., one of leading American cryptocurrency exchanges recently announced plans about extending their crypto trading services across 17 countries spread across Asia Pacific region including Japan , South Korea , Singapore , India etcetera . This move is expected make Coinbase one top 10 largest crypto exchanges globally by volume in coming years .